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Buying to flip not smart in today's market

By Dian Hymer, Monday, May 12, 2008.

There are deals to be made in the current real estate market. Home buyers in many areas finally have the upper hand. Ironically, buyers tend to pull back when the market is soft and buy when the market is high.

Savvy investors attempt to buy when the market it low and sell when it's high. But, it's impossible to time the market, so there is always an element of risk involved. Here are some guidelines to keep in mind if you're considering buying a home in the current market.  more...

Home buyers: There's more to purchase offer than price

By Dian Hymer, Monday, May 5, 2008.

There is more to a home purchase offer than the price. Ideally, the offer, including any counteroffers, should encompass all the terms and conditions that will apply to the purchase transaction.

In some states, attorneys draft purchase offers. In other states, like California, most residential purchase offers are filled out by real estate agents using pre-printed contracts that were drafted by attorneys. In either case, make sure to read the offer and understand it before it's presented to the sellers.  more...

Sellers, don't be difficult when showing home

By Dian Hymer, Monday, April 28, 2008.

Selling a home while you're living in it can be trying during any market. Today's sellers are generally looking at a longer marketing time than was the case a few years ago. Appropriate pricing for this changing market can shorten the misery. So can taking a few precautions.

The houses that look the best are the ones that get serious attention from buyers. Preparing a house for sale is more important than ever. Keeping it in pristine condition can be a challenge, particularly for sellers with small children and pets.  more...

Price it right when selling in today's market

By Dian Hymer, Monday, April 21, 2008.

We're in the midst of a challenging home-sale market in many areas. However, soft markets can provide opportunities for some home sellers. The trick is to price your home right for today's market.

The most difficult reality for most sellers to face is that prices in their neighborhood may have dropped during the last year or two. Some sellers will find that it may not make sense to sell if the probable sale price is too low.  more...

Don't buy home if you'll need to sell in a recession

By Dian Hymer, Monday, April 14, 2008.

Some people -- including financial wizard Warren Buffett -- think the United States is already in a recession.

Technically, economists define a recession as two or more consecutive quarters of negative growth as measured by the gross domestic product (GDP). Commonly, however, recession is a term used to describe a period of general economic decline.  more...

How buyers, sellers are closing deals in today's market

By Dian Hymer, Monday, April 7, 2008.

Negotiation is back in style, and is likely to remain a necessary part of buying or selling a home in today's beleaguered residential housing market. Other key elements to a satisfactory closing are flexibility, perseverance, creativity and diligence.

Needless to say, you need to work with the best real estate professionals you can find in your area. In most cases, it takes a team effort to put a home-sale transaction together and see it through to fruition.  more...

Major home remodel may not pay off

By Dian Hymer, Monday, March 31, 2008.

Several years ago, if your home no longer suited your needs, you bought another one that worked better. Generally, listings sold quickly, so many homeowners bought first and then sold the old home. Today's challenging residential real estate market makes this process more risky. For some homeowners, it's impossible due to tight credit markets.  more...

Sellers: Don't withhold bad inspection report

By Dian Hymer, Monday, March 24, 2008.

Inspections are an important part of home buying, but the inspection process can be nerve-racking for both buyers and sellers. Both parties want the deal to go through without a hitch. However, sometimes problems surface that the buyers weren't aware of when they entered into contract.

All houses have defects, even new ones. So it should come as no surprise when defects are discovered. The pertinent issues are: Is there a problem? How serious is the problem? How much will it cost to repair?  more...

Top home-buying mistakes revealed

By Dian Hymer, Monday, March 17, 2008.

The first rule of inspecting a home you want to buy is to stay intimately involved in the process, and to leave no stone unturned. If you're busy or traveling during the time period, you have to complete your due diligence investigations by enlisting the aid of a friend you trust to stand in on your behalf -- someone who will keep you well informed as inspections proceed.  more...

How accurate is a CMA?

By Dian Hymer, Monday, March 10, 2008.

Homeowners preparing to sell their home usually call a real estate agent, or sometimes several, to make a presentation. Sellers should consider an agent's professional qualifications, recommendations and marketing plan. But, what sellers are most interested in knowing is: What's it worth?  more...

It pays to sell home before buying another

By Dian Hymer, Monday, March 3, 2008.

An Oakland, Calif., couple had wanted to change their lifestyle for years. Like many people who want to make a move from the home they own to another they hope to own, this couple put the cart before the horse. They started by researching what it would cost to buy the next home before investigating how much cash they would net from the sale of their current home.  more...

Selling home 'as is' in today's market?

By Dian Hymer, Monday, February 25, 2008.

A listing that is advertised as an "as is" sale can be a put-off to buyers. They might assume that something is wrong with the property that will cost a lot to repair. If they have little free time or money, they might decide before even taking a look that this isn't the house for them.  more...

Housing downturn makes refinancing more difficult

By Dian Hymer, Monday, February 18, 2008.

Refinance applications jumped during the first week of 2008, according to a recent weekly survey from the Mortgage Bankers Association. The catalyst was lower interest rates on 30-year fixed-rate mortgages that hovered below 6 percent on average at the end of the first week in January, and rates have fallen further since then.

During the recent years of record home buying, most buyers opted for adjustable-rate mortgages (ARMs) rather than fixed-rate financing.  more...

Renovating home's exterior pays off

By Dian Hymer, Monday, February 11, 2008.

Most homeowners expect the value of their homes will increase when they spend money on remodeling. However, this is often not the case. The recent Cost vs. Value Report prepared by Remodeling magazine in conjunction with the National Association of Realtors makes this point abundantly clear.  more...

Things to know before writing home-purchase offer

By Dian Hymer, Monday, February 4, 2008.

There is no foolproof strategy for buying a property at just the right price. There are several reasons for this. In the first place, although the listing inventory is high in most places, sellers are not equally motivated to sell.

There are sellers who would like to sell, but who don't have to sell. If they don't get their price, they either stay put or rent out the property until the market turns. Sellers who don't need to sell are often resistant to negotiating the price.  more...

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